Wednesday, June 29, 2016

News from the County IDA

Gossips has learned that, on Tuesday morning, the Columbia County Industrial Development Agency (IDA) granted Redburn Development the PILOT that was sought to develop 41 Cross Street into a 55-room hotel to be called "The Wick."
Work on restoring and adapting the building is expected to begin later this summer.
COPYRIGHT 2016 CAROLE OSTERINK
Posted by at

3 comments:

  1. PewtetraJune 30, 2016 at 9:41 AM

    Carol, Do you know the details of the payment schedule - if it remained the $20,000 the 1st year, $25,000 the 2nd year then increasing
    $9,375 yearly to 100 % ?

    ReplyDelete
    Replies
    1. Carole OsterinkJune 30, 2016 at 11:03 PM

      Pewtetra--I wasn't able to attend the county IDA meetings at which the PILOT was discussed, but I just got confirmation from First Ward supervisor Sarah Sterling that the terms of the PILOT granted are the same as those proposed in the resolution from the Hudson IDA, which were outlined in this Gossips post: http://gossipsofrivertown.blogspot.com/2016/06/a-pilot-for-wick.html.

      Delete
    2. PewtetraJuly 1, 2016 at 8:44 AM

      Thank you.

      Delete

Subscribe to: Post Comments (Atom)